The best description of the financial statements that a public company prepares is:
A)tax-based financial statements.
B)specific purpose financial statements.
C)general principle financial statements.
D)general purpose financial statements.

Question

Quizplus · Accepted Answer

Public companies prepare general-purpose financial statements, which are designed to provide a wide range of information to various users, such as investors, creditors, employees, and regulators. These financial statements follow generally accepted accounting principles (GAAP) and include the balance sheet, income statement, statement of cash flows, and statement of stockholders' equity.

The Best Description of the Financial Statements That a Public